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Guala Closures to invest UAH 24m (app. USD 3m) in production expansion in Ukraine
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13 April 2011
Guala Closures, one of the largest bottle top producers in the world, will invest UAH 24 million (app. USD 3 million) in the construction of a second production facility at Guala Closures Ukraine Ltd. (Sumy).
Representatives of the company reported at a meeting of the council for investment attraction under the Sumy regional administration head Yuriy Chmyr held recently, the construction was started in H2, 2010 and will be finished by autumn 2011.
The gross area of the new facility will be 7,000 square meters, and around 100 new jobs will be created.
"We're taking this example to show how the authorities provide aid in passing through permit procedures during construction," Chmyr said at the meeting.
He said that regional authorities came to an understanding with the foreign investor, which will provide dividends in the form of new jobs, payments to the budgets and the realization of social programs.
Guala Closures Ukraine Ltd. produces plastic and aluminium bottle tops. The Antimonopoly Committee of Ukraine in August 2008 permitted Dutch Guala Closures International B.V., a subsidiary of Italy's Guala Closures SpA, to acquire Sumy-based Technology Closures Ltd. The company was renamed.
Source: Interfax-Ukraine
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